Nvidia (NVDA) Stock Jumps 9% After Blowout Earnings and 70% Revenue Forecast
TLDR
- Nvidia stock jumped 8.7% on Thursday, adding $442 billion in market cap, the second-largest single-day gain in stock market history
- Q2 revenue came in at $96.22 billion, up 105.9% year over year, beating estimates of $92.27 billion
- Nvidia guided for 70% revenue growth next fiscal year, well above the 45% analysts expected
- The stock opened at $227.98 on Friday, with a market cap of around $5.52 trillion
- Analysts maintain a โModerate Buyโ consensus with an average price target of $322.61
Nvidiaโs stock surged 8.7% on Thursday after the company posted blockbuster earnings and gave a revenue forecast that caught Wall Street off guard. The stock opened at $227.98 on Friday.
The company reported Q2 EPS of $2.22, beating the consensus estimate of $2.09. Revenue hit $96.22 billion for the quarter, up 105.9% year over year and ahead of analyst estimates of $92.27 billion.
The bigger story was the outlook. Nvidia guided for revenue growth of around 70% next fiscal year, well above the 45% Wall Street had expected.
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